Parker-Hannifin Corporation $PH Shares Purchased by Capital Investment Advisors LLC

Key Points

• Capital Investment Advisors LLC increased its Parker-Hannifin stake by 269.9% in the third quarter, owning 3,244 shares valued at approximately $3.1 million. Institutional investors collectively own 82.44% of the company.
• Analysts remain broadly positive on Parker-Hannifin, with 18 Buy ratings and five Holds, producing a “Moderate Buy” consensus and an average price target of $1,146.35.
• Parker-Hannifin exceeded quarterly expectations with adjusted earnings of $9.27 per share and revenue of $5.75 billion, while maintaining a quarterly dividend of $2.00 per share, or $8.00 annualized.

Capital Investment Advisors LLC increased its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 269.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,244 shares of the industrial products company's stock after buying an additional 2,367 shares during the quarter. Capital Investment Advisors LLC's holdings in Parker-Hannifin were worth $3,099,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. E Fund Management Co. Ltd. boosted its position in Parker-Hannifin by 2.1% during the 2nd quarter. E Fund Management Co. Ltd. now owns 477 shares of the industrial products company's stock valued at $467,000 after buying an additional 10 shares during the period. Optas LLC grew its holdings in Parker-Hannifin by 3.1% in the 1st quarter. Optas LLC now owns 370 shares of the industrial products company's stock worth $331,000 after acquiring an additional 11 shares during the last quarter. Allen Capital Group LLC grew its holdings in Parker-Hannifin by 4.8% in the 1st quarter. Allen Capital Group LLC now owns 264 shares of the industrial products company's stock worth $236,000 after acquiring an additional 12 shares during the last quarter. Doliver Advisors LP increased its position in shares of Parker-Hannifin by 0.6% in the second quarter. Doliver Advisors LP now owns 2,011 shares of the industrial products company's stock valued at $1,967,000 after acquiring an additional 12 shares during the period. Finally, Bullock Wealth Management Group increased its position in shares of Parker-Hannifin by 1.6% in the third quarter. Bullock Wealth Management Group now owns 754 shares of the industrial products company's stock valued at $728,000 after acquiring an additional 12 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of Parker-Hannifin stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the sale, the vice president owned 4,399 shares of the company's stock, valued at approximately $4,577,027.53. The trade was a 12.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PH shares. Truist Financial upped their price objective on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Stifel Nicolaus set a $1,002.00 target price on Parker-Hannifin in a research note on Monday, October 19th. Citigroup raised their target price on Parker-Hannifin from $1,232.00 to $1,234.00 and gave the stock a "buy" rating in a research note on Monday, October 12th. Evercore boosted their price target on Parker-Hannifin from $1,064.00 to $1,217.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. Finally, Raymond James Financial upped their price target on Parker-Hannifin from $1,050.00 to $1,250.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Parker-Hannifin currently has an average rating of "Moderate Buy" and an average price target of $1,146.35.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $880.03 on Friday. The stock has a fifty day moving average of $966.89 and a 200 day moving average of $951.03. Parker-Hannifin Corporation has a 52 week low of $755.10 and a 52 week high of $1,099.94. The firm has a market capitalization of $110.98 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 2.45 and a beta of 1.12. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, beating the consensus estimate of $8.31 by $0.96. The business had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, research analysts expect that Parker-Hannifin Corporation will post 35.72 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 31st were given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, August 31st. Parker-Hannifin's dividend payout ratio (DPR) is currently 28.08%.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.